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Sep 22, 2012
09/12
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CNN
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the big choice remains beyond the fiscal cliff. >> fiscal cliff holding back hiring, keeping the unemployment rate higher than it should be. >> a real difference between talking about the potential economic effect of the fiscal cliff in dealing with our debt and deficit problem, two different conversations. agree with something ben said, cannot balance the federal budget and cannot cut it based upon the discretionary budget at all. you have to address the fat where the fat is. how do you do that in ent tamts, talk about raising the age of social security and the age of medicare. >> yes, yes and yes. >> will and i agree on that. >> people live longer these days. >> can't do that in an election year. >> not at all. >> somebody always trying to get elected. >> people want their stuff. they want their stuff and they don't want to pay for it. >> let's look at some of the things with the safety net. 26% are using medicaid. 15% on food stamps, 8% are using something called the food aid for women, infants and children. 4% housing assistance and 2% receive aid to needy families. other safety nets, not
the big choice remains beyond the fiscal cliff. >> fiscal cliff holding back hiring, keeping the unemployment rate higher than it should be. >> a real difference between talking about the potential economic effect of the fiscal cliff in dealing with our debt and deficit problem, two different conversations. agree with something ben said, cannot balance the federal budget and cannot cut it based upon the discretionary budget at all. you have to address the fat where the fat is. how...
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Nov 14, 2012
11/12
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FBC
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eye 111
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lou: fiscal cliff, fiscal cliff. you think we will be able to get a solution, these things, the president will stand up and leave in the two parties will come together, embrace higher taxes and less spending? >> yes, i do. i really beliive in this country. labeling the country the brightest spot in the world two weeks ago. something has to be done, this is his moment to leave. >> i hope you are right. lou: do you agree or just hoping? >> i am in the hoping category. i have not seen any indication in that, any indication of embracing. neil: saying republicans ought to go along with the taxes for a few millionaires and take obama's offer. just talking with friend and our colleague fred barnes yesterday. i have not heard the offer from the obama administration, have you? >> no, but you don't bet against yourself. it is up to the president to lead, he has a do over now. there is a lot of doubt out there. it is up to president bush's offer on the table. if he acts in good faith the republicans have returned the good faith
lou: fiscal cliff, fiscal cliff. you think we will be able to get a solution, these things, the president will stand up and leave in the two parties will come together, embrace higher taxes and less spending? >> yes, i do. i really beliive in this country. labeling the country the brightest spot in the world two weeks ago. something has to be done, this is his moment to leave. >> i hope you are right. lou: do you agree or just hoping? >> i am in the hoping category. i have not...
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Nov 15, 2012
11/12
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FBC
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eye 79
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cliff and how do you say fiscal cliff in russian? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidely. liz: the power mover of the hours diamond foods, the fast-food company going stale hitting a six year low. your the one week chart so you can see what happened here and it is not a pretty picture. big drop off right here. news is that it's a six year low it is restating its financial results for fiscal year 2010 and 2011. not just 2011 where the real problems began. that is a real problem because as you see when you look at this company is a troubling thing. not just 20% lo
cliff and how do you say fiscal cliff in russian? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account...
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Dec 27, 2012
12/12
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FBC
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gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent,
gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right...
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Aug 8, 2012
08/12
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FOXNEWS
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eye 117
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and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only on the rich. but he's admitted that he is going to raise taxes on small businesses. he says it will impact 2% of small businesses. that sounds like not very many. but when you figure that's 900,000 small businesses to see a tax increase. he also wants to raise capital gains taxes and dividend tax significantly. this will affect investments. so businesses are looking at that. they are thinking, this is not going to be good for us. he has also promised to continue to advance the regulatory machinery that has been turbocharged under his administration. and the first three years, he has put in place, regu
and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only...
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Nov 26, 2012
11/12
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FBC
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cliff -- go over the fiscal cliff. if we as we get a couple more days down the road, we're going to start drawing up the alternative scenarios of what's going to happen in reduction of services across the commonwealth of pennsylvania, particularly in the social services. for example, our special education, our community economic development block grants and workforce investment would all be dramatically affected by this federal money that normally comes to the state and right into the local communities that won't be there, at least at the levels that was originally put out by the government in the first place. liz: what keeps you up at night, governor? what part of all those worries concerns you the most? the cuts, the tax hikes? >> usually i wake up about 3:00 in the morning and i wonder where are we going to balance the budget, first off with the economy as it is right now, it is just slowly increasing. we have a pension crisis just like every other state just about has a pension crisis. liz: you have had success. i
cliff -- go over the fiscal cliff. if we as we get a couple more days down the road, we're going to start drawing up the alternative scenarios of what's going to happen in reduction of services across the commonwealth of pennsylvania, particularly in the social services. for example, our special education, our community economic development block grants and workforce investment would all be dramatically affected by this federal money that normally comes to the state and right into the local...
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126
Dec 13, 2012
12/12
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CNBC
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all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
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46
Nov 16, 2012
11/12
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FBC
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eye 46
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so they punted and kicked it down the fiscal cliff. now, you're facing this fiscal cliff. they will revisit these issues in 2013 and put in some longer term structural reforms both on the tax side and the entitlement side. i am pessimistic that we will see anything serious done in the short-term and long-term. gerri: i want to ask your opinion about an outlier opinion, americans for tax reform, grover norquist. he said the president will definitely improve extending the tax cuts for everybody. now, is he just saying what to see happen? or do you think he might have a point? >> no, i'm skeptical. look at how much time the president has spent. on the campaign trail, but then afterwards as well. assisting on these rate hikes. he focused on a point of disagreement last week with house republicans. yes talked about it again. you have house democrats and senate democrats who have campaigned and are insisting upon these rate hikes. i also think it's a good political issue. gerri: let's talk about the polls. richard trumka said there is no fiscal cliff. what we are facing is an ob
so they punted and kicked it down the fiscal cliff. now, you're facing this fiscal cliff. they will revisit these issues in 2013 and put in some longer term structural reforms both on the tax side and the entitlement side. i am pessimistic that we will see anything serious done in the short-term and long-term. gerri: i want to ask your opinion about an outlier opinion, americans for tax reform, grover norquist. he said the president will definitely improve extending the tax cuts for everybody....
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Dec 6, 2012
12/12
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MSNBCW
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one we're lamely calling the fiscal cliff. the way republicans in congress and the president solved the debt ceiling crisis was to build this cliff, that we're now supposedly dangling off of. they inve' we're up against. the debt ceiling fight was a disaster, and now republicans, surprise, want to have that fight again. "the new york times" reports that one idea bouncing around the right side of the aisle is this. the republicans will extend tax cuts for the middle class, and then when they need to raise the debt ceiling, quote, demand deep concessions on medicare and social security as a price to raise the debt ceiling. one republican senator reportedly called the debt ceiling the line in the stand. the odds are pretty close to zero that we mint a $1 trillion coin in order to pay off some of the debt. but there's striking movement in the direction of changing the rules so we don't ever have to fight over this completely unnecessary issue ever again. remember, this is important. the debt ceiling isn't about incurring future de
one we're lamely calling the fiscal cliff. the way republicans in congress and the president solved the debt ceiling crisis was to build this cliff, that we're now supposedly dangling off of. they inve' we're up against. the debt ceiling fight was a disaster, and now republicans, surprise, want to have that fight again. "the new york times" reports that one idea bouncing around the right side of the aisle is this. the republicans will extend tax cuts for the middle class, and then...
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233
Nov 29, 2012
11/12
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FBC
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eye 233
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fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is
fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest...
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Dec 11, 2012
12/12
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CNBC
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we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and get the issue resolved. i've never seen anything like this. >> you've been around a long time and seen lots of parties fight. >> they always come to go. the difference now is that -- not that there are more differences than unusual. if you go back, there's a lot of data that suggests this is not unusual. what is unusual is the republicans don't speak to the democrats and vice versa? back then, i mean, not that far. >> they went to dipper and went to lunch and discussed issues. >> when i was in the white house, tip o'neill and jerry ford used to be at each oth
we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and...
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Dec 7, 2012
12/12
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FOXNEWS
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eye 76
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geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question
geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would...
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199
Nov 14, 2012
11/12
by
MSNBC
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eye 199
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what happens if we go off the fiscal cliff? what is the fiscal cliff? >> well -- >> i can't even balance a checking account. what is it? >> it's actually more like 2 1/2 cliffs because you have three things happening in the next few months. you have the bush-era tax cuts expiring. you have the obama stimulus tax cuts expiring. you've got a collection of the spending increases that were agreed last year coming into force. and you've also got -- sorry, spending cuts coming into force. and you've also got the debt ceiling in the sense that congress is going to have to get permission to issue more bonds. and those three things coming together create a very nasty shock. and essentially if you do nothing, if you let the spending cuts happen, if you have the tax cuts roll off and you have essentially tax increases, you'll get a hit that's worth 3% to 4% worth of gross domestic production, and that will almost certainly push the economy back into recession. so there's an awful lot at stake right now. what paul ryan said is very interesting because we had an edi
what happens if we go off the fiscal cliff? what is the fiscal cliff? >> well -- >> i can't even balance a checking account. what is it? >> it's actually more like 2 1/2 cliffs because you have three things happening in the next few months. you have the bush-era tax cuts expiring. you have the obama stimulus tax cuts expiring. you've got a collection of the spending increases that were agreed last year coming into force. and you've also got -- sorry, spending cuts coming into...
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70
Dec 26, 2012
12/12
by
CNBC
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eye 70
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cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get their act together and we'll get something to go forward. we think the markets will respond positively. >> you do admit that things could get a whole lot worse from a market standpoint before they get better, right? >> if nothing is done, and we just do not feel at this point that knock will be done. we think that investors who are concerned that nothing will be done and the washingtonians will stick to that through the first quarter flat second quarter should be buying puts at this point. from the perspective that we see now, from the words that came out of both the president as well as the speaker of
cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get...
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Dec 3, 2012
12/12
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CNBC
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more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken to our national defense budgets. >> let's go straight to the front lines of the issue. task specializes in systems, engineering and integrate. president and ceo david langstaff is with us, among the defense contractors speaking out today in washington. he joins me now on the telephone. sir, good to have on you the program. thanks for joining us. >> thank you. glad to be with you. >> what's the potential fallout for task if we go over the fiscal cliff. how would you navigate this? >> first, it's just terrible policy to go over the
more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken...
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213
Nov 29, 2012
11/12
by
CNBC
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eye 213
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ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting reces
ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market...
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209
Dec 1, 2012
12/12
by
CNNW
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eye 209
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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279
Dec 28, 2012
12/12
by
CNBC
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eye 279
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dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ male announcer ] th
dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your...
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67
Dec 27, 2012
12/12
by
FBC
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eye 67
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>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and import, eric. about $100 billion or more comes in and out where you have to have these strikes. co it is very devastating and could reverberate throughout thees country. food distributors, everybody would be affected by this strike if it goesrd forward. eric: what do the unions want and what is management willing to do, how far apart are these two groups? >> normally in a dispute with the unions it is about wages and benefits in this case it is not. what the unions are objecting to with reports i have been seeingu is new work rules a
>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and...
100
100
Nov 27, 2012
11/12
by
FBC
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eye 100
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companies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is why. the contention that rich people will stop hiring is nonsense. we already know that more than a million americans to employ people and paying there taxes through there individual income-tax. according to the heritage foundation, the amount their taxes would rise would be equivalent to one employee salary. one person there would not hire. we will what is more, rinsed and young says these tax hikes would kill 710,000 jobs. buffett also says that rich people will stop investing. again, nonsense. when you tax something usually get less of it,
companies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here...
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174
Dec 10, 2012
12/12
by
CNBC
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eye 174
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fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest said, wholesale inventory number. you have to watch that, if you start to see a long-term trend where the companies are building inventories, that's something more ominous to the economy. the small business index coming out tomorrow. that, of course, should show a gradual increase in its pace. and the federal reserve is starting their meetings tomorrow, so, for wednesday, we're expecting an additional $40 billion every month of additional treasury purchases to take place on the operation twist. >> jennifer, 30 seconds. what do you see tomorrow? >> yeah, we
fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest...
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Dec 4, 2012
12/12
by
CNBC
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eye 206
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and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i
and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama...
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Dec 11, 2012
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. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers like he has never done before. >> these so-called right the work laws, they don't have to do with economics. they have everything to do with politics. >> tonight the president's big speech, and why the fight in michigan is an assault on workers everywhere. >>> plus, major news on a white house push for immigration reform. in 40 years after man's last trip to the moon, a return voyage may be a reality. astronomer derrick ditz will tell you why the golden spike is a big deal. good to have you with us, folks. thanks for watching. the new republican strategy is to take the ameri
. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers...
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Nov 30, 2012
11/12
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surrounding the fiscal cliff. this is a mess created by congress. we are asking the same people to clean up this mess and all the others that we keep creating. you know the numbers. congress is spending a trillion dollars more each year than with the treasury brings in. the tax the rich idea brings in about $100 billion. that leaves us still at about 900 billion short of revenues. then what? welcome this past week i saw three balloons. one was to reduce or eliminate the mortgage deduction. another was deductions for attorneys, and the third was to figure out some way to get attacks on your 401k. i bet you that the fuel tax deduction, but that goes away as well. meaning that your take-home pay in january will be less. don't be shocked. do you think they would stop winl
surrounding the fiscal cliff. this is a mess created by congress. we are asking the same people to clean up this mess and all the others that we keep creating. you know the numbers. congress is spending a trillion dollars more each year than with the treasury brings in. the tax the rich idea brings in about $100 billion. that leaves us still at about 900 billion short of revenues. then what? welcome this past week i saw three balloons. one was to reduce or eliminate the mortgage deduction....
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Aug 29, 2012
08/12
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number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i can go to that in some detail -- >> that's fine, 15%. what would the impact be on gdp? >> for first quarter of 2013, our economist neil sauce thinks real gdp could be negative 5%. >> holy smokes! >> and potentially negative 3% for q2 before we eventually see a bit of a recovery in the fourth quarter of next year. that's significantly worse forecast than what anybody is expecting. that's not our base forecast. by the way. >> sure. what do you do in that case? give me a good idea if you want to prepare your portfolio for that possibility. >> sure, so a couple of things. by the sector level, not t
number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i...
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Nov 7, 2012
11/12
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wyatt andrews on the fiscal cliff. a nor'easter bears down on shores ravaged by sandy. ben tracy is there. we'll have the forecast. >> i don't know if we can mentally handle another storm. >> pelley: and one secret to the president's success was the changing face of america. anna werner on the new voters who helped push him over the top. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. this is a special one-hour edition. $6 billion was spent on political campaigns and when they were over nothing much changed. republicans will still control the house, democrats the senate, and barack obama will still be president. this was the scene tonight as the president and the first family returned from chicago aboard air force one. they landed at joint base andrews right outside washington, d.c we will have a look at what you can expect from washington many the future, but first the latest returns. we still can't project a winner the presidential contest in florida, but even without florida mr. obama has 303 electoral votes-- we
wyatt andrews on the fiscal cliff. a nor'easter bears down on shores ravaged by sandy. ben tracy is there. we'll have the forecast. >> i don't know if we can mentally handle another storm. >> pelley: and one secret to the president's success was the changing face of america. anna werner on the new voters who helped push him over the top. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. this is a special one-hour...
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Dec 12, 2012
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the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want
the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the...
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Dec 14, 2012
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we all know about the fiscal cliff. what about the fiscal cliff with frequent flyer miles? you'll be surprised. we have a big surprise for you coming up at 2:00 p.m., scotty. you have to tune in to find out what it is. that's a tease. >> i'm looking over my shoulder at sully who is disappointed he didn't get a little mention. >> catch me on street signs. >> prop the man up. >> at least 22 1/2. >> well, i thought it was only 20%. >> i'm talking body mass. >> yeah. in which case it is 15. >> guys, we will see you at 2:00. look forward to that. when halftime report returns the fiscal cliff and the markets. why a deal may move stocks in the direction you haven't prepared for but first the case for and against walmart. the trade at two month lows. we go live to the mall in short hills, new jersey to find out where consumers are opening their wallets the widest. we'll get inside from the taubman centers executive. there is a live shot of the mall. good traffic there right now. we'll be right back. can i help you? i heard you guys can ship ground for less than the ups store. that'
we all know about the fiscal cliff. what about the fiscal cliff with frequent flyer miles? you'll be surprised. we have a big surprise for you coming up at 2:00 p.m., scotty. you have to tune in to find out what it is. that's a tease. >> i'm looking over my shoulder at sully who is disappointed he didn't get a little mention. >> catch me on street signs. >> prop the man up. >> at least 22 1/2. >> well, i thought it was only 20%. >> i'm talking body mass....
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Nov 14, 2012
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towards a fiscal cliff. bad news? just elect a guy whose campaign slogan was "forward". >> that is your a lot of call. lights are blinking and we are closing down shop. we're going see you tomorrow night. senator john
towards a fiscal cliff. bad news? just elect a guy whose campaign slogan was "forward". >> that is your a lot of call. lights are blinking and we are closing down shop. we're going see you tomorrow night. senator john
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Nov 14, 2012
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towards a fiscal cliff. bad news? just elect a guy whose campaign slogan was "forward". >> that is your a lot of
towards a fiscal cliff. bad news? just elect a guy whose campaign slogan was "forward". >> that is your a lot of
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the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best wa
the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the...
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Nov 28, 2012
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fiscal cliff? >> yes. obviously, we are leaving it to speaker john boehner and the house. the republican negotiating position and the president representing the democrats in the house and the senate. to make the -- to present the -- their conclusions to the rest of us to evaluate and vote on. but it has to be voted on in the house of representatives. the republican house members need to support it for it to pass. in the senate, it is not just enough for 51 democratic senators to be supportive. the rules permit the minority to have some rights -- until the rules are changed. as a result, we do have a voice. it has to be something that is acceptable to the senate republicans, as well as house republicans. >> have you seen any indication that senator harry reid wants to cut -- any spending? >> no. >> none? >> you never get him to talk about reducing spenning by a dime. it's always about adding revenue. they are not even satisfied to have more money. they have to specify where it comes from. rich peopl
fiscal cliff? >> yes. obviously, we are leaving it to speaker john boehner and the house. the republican negotiating position and the president representing the democrats in the house and the senate. to make the -- to present the -- their conclusions to the rest of us to evaluate and vote on. but it has to be voted on in the house of representatives. the republican house members need to support it for it to pass. in the senate, it is not just enough for 51 democratic senators to be...
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Jun 1, 2012
06/12
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i know you're not, very worried about the fiscal cliff we're coming ought, what is a bigger cliff? fiscal cliff or the economic cliff? >> well, i think it's the economic cliff. you're right. labor mobility is very tough. it's hard for people to move around because of this stagnation in home prices. can't sell your home and move where the jobs are. that's holding everybody back. to that end i think what we have to do is try and make it cheaper for employers to hire people. lower the cost. tax cuts, incentives, something to make it easier or cheaper to high people across the board that would probably be the only thing we can do in the short term. in the long term, we have to wait for the storm clouds in europe to subside and wait and see whether some of the storm clouds in the housing market, some of the other things holding us back subside here. >> how much worst would it get in europe faums awars, greece goes -- spain goes. >> we're not exporting a lot of stf to ow. >> no. >> if you were counting on italy for growth in your end market, you've been disappoint add decade now. the pro
i know you're not, very worried about the fiscal cliff we're coming ought, what is a bigger cliff? fiscal cliff or the economic cliff? >> well, i think it's the economic cliff. you're right. labor mobility is very tough. it's hard for people to move around because of this stagnation in home prices. can't sell your home and move where the jobs are. that's holding everybody back. to that end i think what we have to do is try and make it cheaper for employers to hire people. lower the cost....
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Dec 19, 2012
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john, to the fiscal cliff first. the president says there's no reason why we should go over the cliff, that we're only a few hundred billion dollars apart. what's the next step in trying to bridge that gap? >> well, there are private negotiations going on, scott, at the staff level. i think we're going to see how speaker boehner can play out this plan b, whether he can, in fact, pass it in the house. republicans as well as democrats have some issues with it, especially the republicans who don't want tax increases on anybody. but i think this was a fascinating moment because you saw the president not only proposing steps that he's going to take with joe biden vowing to put him in the state of the union address on gun violence, mental health, and all the related issues around there, but also leveraging the mood of post-newtown, to try to put pressure on the congress and say, we need to take off the partisan war paint just for a little while, do this for the country. there's one thing that we should have learned after t
john, to the fiscal cliff first. the president says there's no reason why we should go over the cliff, that we're only a few hundred billion dollars apart. what's the next step in trying to bridge that gap? >> well, there are private negotiations going on, scott, at the staff level. i think we're going to see how speaker boehner can play out this plan b, whether he can, in fact, pass it in the house. republicans as well as democrats have some issues with it, especially the republicans who...
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. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive. it is the math. >> magic math. >> magic beans and fairy dust. >> president obama did win the election. >> me thinks somebody made him king. >> no. i don't think that's right. >> he doesn't see where he stands in the universe. >> i would say we're nowhere. >> are we that far apart? >> both sides want a deal. >> a matter of math. >> try to stay away from hypotheticals. >> it won't pass. >> discussions about unicorns. >> unicorns. >> they're imaginary beasts. >> magic beans. >> magic math. >> an enchanted universe. >> outrageous. >> the whole thing is going wacky. >> i would say we're nowhere. >> i don't envy the position the speaker is in. >> we're nowhere. ?
. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive....
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Dec 28, 2012
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. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the new year, mandy. >>> bring it on. the s&p 500 is on track for a fifth straight decline. some of the hope does seem to be coming out of the market of late for a deal. of course, there could still be time. nonetheless, what we have seen is a drop of 1.3% so far this week. indead, the s&p's longest losing streak in three months. even the good news on home sales. not helping the three major averages which are on pace for their biggest weekly drop in six weeks. keep in mind, many investors are still away for the holiday shortened week. volume is light. that does tend to exacerbate market swings. let's get down
. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the...
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Dec 27, 2012
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people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's
people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the...
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Nov 8, 2012
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it's the fiscal cliff over here. all those economies put together don't matter. >> no, joe, it's actually the fiscal of cliff over here, too. you'd be amazed how many times it's the first thing on everyone's lips. yesterday was one of the first times i've heard people both here and once the u.s. trading session got under way asking what is it in europe spurring the selloff because they couldn't make sense of it. so whether it was what draghi said yesterday about the weakening of the german economy or the vote in athens which is did pass, we saw the worst selling pressure in the u.s. did come from the european trading session. by the way, we did see after asian stocks follow the u.s. session, a bit of brightening of attitudes in europe. this is sort of where we started and then we paired the gains. risk went off for a time being on reports that spain may not request aid before the end of the year. spain was able to raise more funds than needed at auction and it is you now funded through the end of the year. so bizarre
it's the fiscal cliff over here. all those economies put together don't matter. >> no, joe, it's actually the fiscal of cliff over here, too. you'd be amazed how many times it's the first thing on everyone's lips. yesterday was one of the first times i've heard people both here and once the u.s. trading session got under way asking what is it in europe spurring the selloff because they couldn't make sense of it. so whether it was what draghi said yesterday about the weakening of the...